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u.s. economy

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U.S. President Joe Biden speaks about gas prices at the White House in Washington

Economy Jun 22

Biden asks Congress to suspend the federal gas tax to curb rising prices

Nation Jun 21

Primary election in Atlanta, Georgia
Watch 4:54
News Wrap: Georgia, Arkansas, Virginia and Alabama hold elections

In our news wrap Tuesday, Multiple states are holding primary and runoff elections including Alabama, Georgia, Arkansas and Virginia. Also, U.S. Attorney General Merrick Garland met with Ukraine’s prosecutor general, historic monsoon floods submerged more of Bangladesh, floods in China…

Economy Jun 19

U.S. Treasury Secretary Janet Yellen testifies before the Senate Appropriations Subcommittee on Financial Services about the FY22 Treasury budget request on Capitol Hill, in Washington, DC, U.S., June 23, 2021. Photo by Shawn Thew/Pool via REUTERS
Yellen says economy will slow but a recession is not ‘inevitable’

Yellen offered a dose of optimism even as economists grow increasingly worried about a recession fueled by skyrocketing inflation and the Russian invasion of Ukraine.

By Aamer Madhani, Associated Press

Nation Jun 17

Children age 5-11 receive booster vaccinations against the coronavirus disease (COVID-19) in Schwenksville
Watch 4:11
News Wrap: FDA authorizes first COVID-19 vaccines for children under age 5

In our news wrap Friday, the Food and Drug Administration authorized the first COVID-19 vaccines for children under age 5, the Federal Reserve doubled down on its pledge to curb soaring inflation, former Trump adviser Peter Navarro pleaded not guilty…

Economy Jun 15

Fed Chair Jerome Powell Holds Press Conference
Watch 5:36
Federal Reserve implements highest interest rate hike in decades to combat inflation

The Federal Reserve on Wednesday ramped up its efforts to fight inflation with a notable interest rate hike. Officials voted to raise rates by three-quarters of a point, a jump higher than expected just a week ago. Fed chair Jerome…

By Paul Solman, Courtney Norris, Tommy Walters

Jun 14

Watch 5:23
News Wrap: FDA advisory panel recommends Moderna’s vaccine for children ages 6 to 17

By PBS NewsHour

In our news wrap Tuesday, an FDA advisory panel voted to recommend that the CDC approve Moderna's vaccine for kids 6 to 17 years old, the Labor Department says wholesale prices were up 10.8 percent from a year ago, the…

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Jun 13

Watch 6:02
Markets plunge amid fears of sharply higher interest rates

Wall Street has gone into meltdown mode over inflation fears and the possibility that higher interest rates are imminent. The Dow Jones Industrial Average, NASDAQ and the S&P 500 all fell significantly. It is now officially a bear market, down…

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Jun 11

Nationwide average for gasoline tops $5 per gallon, AAA says

By Associated Press

Auto club AAA said the average price on Saturday was $5.00. Motorists in some parts of the country, especially California, are paying far above that.

Continue reading

Jun 10

Watch 5:01
Inflation rises faster than expected, pinching pocketbooks and spooking the markets

New inflation numbers out Friday show the nation's economic pain has not peaked, and is still getting worse. The U.S. Labor Department reports consumer prices rose 8.6 percent in May from a year ago, marking the biggest increase in more…

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Jun 04

Watch 6:24
Americans struggle with the high cost of living amid record inflation

By Winston Wilde

It's clear that the realities many Americans face are vastly different from some of the economic indicators on paper. The burden of record-high inflation has continued to push the limits for people across the country. We hear from people who…

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Full Episode
Saturday, Jun 25

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